We Are All Making A Difference Charitable Trust
Trustees' report and financial statements
for the year ended 31 March 2021
Charity number: 1086708
HTCA
Chartered Accountants & Stepple Business Centre Neen Savage, Cleobury Mortimer Kidderminster Worcestershire
We Are All Making A Difference Charitable Trust
Contents
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Trustees report | 2 - 4 |
| Independent examiners' report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 13 |
We Are All Making A Difference Charitable Trust
Legal and administrative information
| Charity number | 1086708 |
|---|---|
| Principle address | 13 Portland Road |
| Edgbaston | |
| Birmingham | |
| B16 9HN | |
| Trustees | A.M. Kaplan |
| Mrs K. Kaplan | |
| P. Murray | |
| B. Kesseler | |
| R.H.D. Gold | |
| Independent Reviewer | HTCA |
| Stepple Business Centre | |
| Neen Savage, Cleobury Mortimer | |
| Kidderminster | |
| Worcestershire | |
| DY14 0LH | |
| Bankers | Lloyds Bank Plc |
| Colmore Row | |
| Birmingham | |
| Accountants | Barnett Ravenscroft Limited |
| 13 Portland Road | |
| Edgbaston | |
| Birmingham | |
| B16 9HN |
Page 1
We Are All Making A Difference Charitable Trust
Report of the Trustees for the year ended 31 March 2021
The trustees have the pleasure in presenting their report and the financial statements for the year ended 31 March 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities : Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014 (as amended by Update Bulletin 1 published on 2 Februay 2016).
Structure, Governance and Management
Objectives and activities
The charity was founded in 1995 by local business men in the West Midlands to raise funds for both children's and aged charities. The charity is governed and administered under the Charities Commission model Charitable Trust deed.
We aim to give away in the form of donations and grants most of the money raised each year. For the current year donations and unrestricted grants have amounted to £214,516 (2020 : 210,611).
Trustees and committee members
Their are five trustees of the charitable trust and a committee of seven voluntary members who also help and provide voluntary support to the running of the charity. The trustees are as follows :-
A.M. Kaplan Mrs K. Kaplan P. Murray B. Kesseler R.H.D. Gold
Organisation
The trustees are responsible for the management of the charity and an administrator who oversee's the day to day running support when required by the committee members.
There are no administrative costs incurred by the trustee from trustee's as all service and support is voluntary.
Risk
The Trustees continually assess the risks to which the Charity is exposed, in particular those related to the staging of events and other fundraising initiatves. They are satisfied that there are systems in place to manage exposure to major risk.
Related Parties
The charity is a 100% shareholder of the company 'We Are All Making A Difference Limited' which stages fundraising events and sponsorship on behalf of the charity and all funds raised at incurring direct costs are donated to the charity.
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We Are All Making A Difference Charitable Trust
Report of the Trustees
for the year ended 31 March 2021
Charitable Mission
We raise funds for terminally ill children and other childrens and aged charities regardless of race, colour or creed. We also assist numerous beneficiaries to whom a relatively small donation has a profound and lasting effect. Donations are made to local charitable causes, primarily based in the West Midlands, at such times and in such manner as the tustees in their absolute discretion think fit.
Donations
Supporters make voluntary donations in many ways. We do not run any programmes targeted specifically at attracting donations, but we are generously supported by individuals and corporations who respect our work.
Fund Raising Events
Income is derived through various sources - personal and corporate donations throughout the year. Funds are raised each year by our Marathon team who participate in the London Marathon with additional funds raised from sponsorship of individuals who enter major charitable events.
Acheivments and Performance
During the year the charity has continued to receive donations and support with the ceasing of its annual fund raisng function and has been able to continue to support individuals and local charities.
Financial Review
These accounts show a strong financial position, and in line with the trusts charitable objectives, the trustees met on 21 September 2021 to distribute funds to beneficiaries. These payments will appear in the next years accounts. The trust has unrestricted funds of £1,532,285 which the trustees will distrubute in the future.
The Trustees
The trustees who served the charity during the year are as follows:-
R.H.D. Gold A.M. Kaplan P. Murray Mrs K. Kaplan B. Kesseler
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We Are All Making A Difference Charitable Trust
Report of the Trustees
for the year ended 31 March 2021
Statement of trustees' responsibilities
The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe methods and principles in the Charities SORP 2015 (FRS102);
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make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities
Independent Reviewer
P. Harbach is appointed independent reviewer to the charity by the trustees.
This report was approved by the trustees on 20 December 2021 and signed on behalf of the board by
A.M. Kaplan Mrs K. Kaplan Trustee Trustee
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We Are All Making A Difference Charitable Trust
Independent examiner's report to the Trustees on the unaudited financial statements of We Are All Making A Difference Charitable Trust.
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2021 which are set out on pages 6 to 13.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts, in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's accounts carried out under Section 145 of the Act, and in carrying out my examination I have followed all the applicable Directions given by the Charity Commissioners under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving cause to believe that in any respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
2 the accounts do not accord with those records; or
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3 the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not the matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...........................................................
P. Harbach FCA Stepple Business Centre Independent examiner Neen Savage, Cleobury Mortimer For and behalf of HTCA Kidderminster Chartered Accountants Worcestershire DY14 0LH
20 December 2021
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We Are All Making A Difference Charitable Trust
Statement of financial activities
For the year ended 31 March 2021
| Unrestricted | Unrestricted | 2021 | 2020 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| funds | Total | Total | |||||||||||
| Notes | £ | £ | £ | ||||||||||
| Income and endowments from: | |||||||||||||
| Donations | 2 | 35,754 | 35,754 | 97,551 | |||||||||
| Interest received | 3 | 8,141 | 8,141 | 9,793 | |||||||||
| Total income and endowments | 43,895 | 43,895 | 107,344 | ||||||||||
| Expenditure on: | |||||||||||||
| Distributions to beneficiaries | 4 | 214,516 | 214,516 | 210,611 | |||||||||
| Raising funds | 576 | 576 | 634 | ||||||||||
| Other expenses | 5 | 5,835 | 5,835 | 2,250 | |||||||||
| Total charitable expenditure | 220,927 | 220,927 | 213,495 | ||||||||||
| Net movment in funds | (177,032 | ) | (177,032 | ) | (106,151 | ) | |||||||
| Total funds brought forward | 1,709,317 | 1,709,317 | 1,815,468 | ||||||||||
| Total funds carried forward | 1,532,285 | 1,532,285 | 1,709,317 |
All income and expenditure derive from continuing activities.
The notes on pages 8 to 13 form an integral part of these financial statements.
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We Are All Making A Difference Charitable Trust
Balance sheet as at 31 March 2021
| 2021 | 2021 | 2020 | 2020 | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |||||
| Fixed assets | |||||||||
| Fixed asset investments | 9 | 1 | 1 | ||||||
| Current assets | |||||||||
| Debtors | 10 | 67,371 | 47,825 | ||||||
| Current asset investment | 11 | 1,006,064 | 1,000,038 | ||||||
| Bank and cash | 464,134 | 663,185 | |||||||
| 1,537,569 | 1,711,048 | ||||||||
| Creditors: amounts falling | |||||||||
| due within one year | 12 | (5,285 | ) | (1,732 | ) | ||||
| Net current assets | 1,532,284 | 1,709,316 | |||||||
| Net assets | 1,532,285 | 1,709,317 | |||||||
| Funds | 13 | ||||||||
| Unrestricted funds | 1,532,285 | 1,709,317 | |||||||
| Total charity funds | 1,532,285 | 1,709,317 |
The financial statements were approved and authorised for issue by the board on 20 December 2021 and signed on its behalf of the board of trustees by
A.M. Kaplan Trustee
Mrs K. Kaplan Trustee
The notes on pages 8 to 13 form an integral part of these financial statements.
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We Are All Making A Difference Charitable Trust
Notes to the financial statements for the year ended 31 March 2021
1. Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.
1.1. Summary of significant accounting policies
(a) General information and basis of preparation
We Are All Making A Difference Charitable Trust is a unincorporated charity registered in England and Wales. The principle address is given in the charity information on page 1 of these financial ststements. The nature of the charity's operations and principle activities are to raise funds and provide donations for both children's and aged charities within the West Midlands.
The charity consitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice 2019 applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) the Charities Act 2011, and UK Generally Accepted Practice.
The charity has applied Update Bulletin 1 as published on 2 February 2017 and does not include a cashflow statement on the grounds that it is applying FRS 102 Section 1A.
The financial statements have been prepared to give a 'true and fiar' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity. The accounts are rounded to the nearest £1.
The significant accounting policies applied in the preparation of these statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
(b) Funds
Unrestricted funds are avliable for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
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We Are All Making A Difference Charitable Trust
Notes to the financial statements
for the year ended 31 March 2021
1.2. Income recognition
All incoming resources are included in the statement of financial activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable the income will be received.
For donations to be recognised the charity will have been noified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then the income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
1.3. Expenditure recognition
All expenditure is accouunted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:
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Distrbutions to beneficiaries.
-
Cost of raising funds includes Just Giving Fees.
-
Other expenditure represents those items not falling into the categories above.
1.4. Investments
Investments in We Are All Making A Difference Limited (a wholly owned subsidiary of We Are All Making A Difference Charitable Trust) are measured at cost less impairment.
1.5. Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
1.6. Provisions
Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
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We Are All Making A Difference Charitable Trust
Notes to the financial statements
for the year ended 31 March 2021
1.7. Tax
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 5 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
1.8. Going Concern
The financial statements have been prepared on a going concern basis as trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income amd expenditure for the next 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able continue as a going concern.
2. Income from donations
| 2. Income from donations |
||
|---|---|---|
| Donations 3. Investment income Interest deposits 4. Analysis of expenditure on charitable activities Donations to beneficiaries 5. Governance costs Professional fees and insurance |
2021 £ 35,754 2021 £ 8,141 2021 Total £ 214,516 2021 Total £ 5,835 |
2020 £ 97,551 |
| 2020 £ 9,793 |
||
| 2020 Total £ 210,611 |
||
| 2020 Total £ 2,250 |
6. Independent examiners remuneration
The independent examiners remuneration amounts to an independent examiners fee of £2,680 (2020 : £1,602).
Page 10
We Are All Making A Difference Charitable Trust
Notes to the financial statements
for the year ended 31 March 2021
7. Trustees' and key management personnel remuneration and expenses
The trustees neither received nor waived any remuneration during the year (2020 : £Nil) The trustees did not have any expenses reimbursed during the year (2020 : £Nil)
| 8. | Investment Managemrent Costs | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | ||||||||
| £ | £ | ||||||||
| Investment management fees | 2,639 | 131 | |||||||
| The above costs were attributable to unrestricted funds. | |||||||||
| 9. | Fixed asset investments | ||||||||
| The £1 Investment represents 100% ownership of We Are Making A Difference | Limited. | ||||||||
| 10. | Debtors | 2021 | 2020 | ||||||
| £ | £ | ||||||||
| Amounts owed by undertakings in which the charity has a participating interest | 67,371 | 47,825 | |||||||
| 11. | Current asset investments | ||||||||
| 2021 | 2020 | ||||||||
| £ | £ | ||||||||
| Cash deposit accounts | 1,006,064 | 1,000,038 | |||||||
| 12. | Creditors: amounts falling due | 2021 | 2020 | ||||||
| within one year | £ | £ | |||||||
| Accruals and deferred income | 5,285 | 1,732 |
Page 11
We Are All Making A Difference Charitable Trust
Notes to the financial statements
for the year ended 31 March 2021
13. Fund Reconciliation
| Unrestricted funds At 1 April 2020 £ Unrestricted funds 1,709,317 At 1 April 2019 £ Unrestricted funds 1,815,468 |
At 31 March Income Expenditure 2021 £ £ £ 43,895 ) (220,927 1,532,285 At 31 March Income Expenditure 2020 £ £ £ 107,344 ) (213,495 1,709,317 |
|---|---|
Purposes of unrestricted funds
To provide funds to local charitable causes, primarily based in the West Midlands.
| 14. | Analysis of net assets between funds | Unrestricted | Unrestricted | Total | |
|---|---|---|---|---|---|
| funds | funds | ||||
| £ | £ | ||||
| Fund balances at 31 March 2021 as represented by: | |||||
| Fixed assets investments | 1 | 1 | |||
| Cash and current investments | 464,134 | 464,134 | |||
| Other current assets/ liabilities | 62,086 | 62,086 | |||
| Cash deposit accounts | 1,006,064 | 1,006,064 | |||
| 1,532,285 | 1,532,285 | ||||
| Fund balances at 31 March 2020 as represented by: | |||||
| Fixed assets investments | 1 | 1 | |||
| Cash and current investments | 663,185 | 663,185 | |||
| Other current assets/ liabilities | 46,093 | 46,093 | |||
| Cash deposit accounts | 1,000,038 | 1,000,038 | |||
| 1,709,317 | 1,709,317 |
Page 12
We Are All Making A Difference Charitable Trust
Notes to the financial statements
for the year ended 31 March 2021
15. Related party transactions
During the year £nil (2020 : £125,000) was received from We Are All Making A Difference Limited and £nil (2020 : £nil) was paid to We Are All Making a Difference Limited. Distribution of £19,546 (2020 : £75,916) was received from We Are All Making A Difference Limited and at the year end there was a debtor relating to We Are All Making A Difference Limited of £67,371 (2020 : £47,825).
We Are All Making A Difference Limited is a wholly owned subsidiary of We Are All Making A Difference Charitable Trust.
Page 13